TRADE FINANCING: Vicentin $100m pre-export financing

Argentina’s difficult economic climate makes it tough for companies to structure deals. International transactions are rare. But an A/B loan led by the Netherlands Development Finance Company (FMO) and Crédit Agricole funneled funds to a family-held oilseed and by-products processor that wanted to extend its maturity profile.
Vicentin’s $100 million, three-year A/B loan signed in September comprises a five-year, $25 million ‘A’ loan from Dutch multilateral FMO and a $75 million, three-year ‘B’ loan from commercial banks. Crédit Agricole, Itaú and Natixis were mandated lead arrangers, joined by lead managers Cordiant and FIMBank, and manager ABN Amro.
The loan was structured to mitigate c